Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
The prices of coins keep rising; however, there are some exceptions to this.
Top coins by CoinMarketCap
ADA/USD
The rate of Cardano (ADA) is almost unchanged since yesterday.
Image by TradingView
On the hourly chart, the price of Cardano (ADA) keeps falling after a false breakout of the local resistance at $0.3831. If closure happens near the support at $0.3777, the decline may continue to the $0.37 area shortly.
Image by TradingView
A bearish situation can also be seen on the daily time frame as sellers have seized the initiative after a failed attempt to fix above the $0.3846 mark. If that does not happen, one can expect a further correction to the $0.3650-$0.3750 area.
Such a scenario is relevant until the end of the week.
Image by TradingView
On the daily time frame against Bitcoin (BTC), the rate of Cardano (ADA) is trading sideways, accumulating power for a further move. However, if buyers lose the 0.00001350 mark, there is a high chance of seeing a test of the support at 0.00001333 within the next few days.
Cardano (ADA) is trading at $0.3779 at press time.
Source: https://u.today/cardano-ada-price-analysis-for-may-30